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BUNDLED MICHIGAN REAL ESTATE EXAM BEST RATED QUESTIONS AND ANSWERS (LATEST UPDATE 2024) 100% SOLVED
Package deal for michigan state real estate exam latest question and answers( best scores)
[Show more]Package deal for michigan state real estate exam latest question and answers( best scores)
[Show more]Accretion - Answer- The addition to real estate by accumulation of soil and land through 
nature. 
 
Accrued Depreciation - Answer- Loss in value of a property due to time. Difference of 
replacement cost and the presently appraised value. 
 
Acre - Answer- 43,560 Sq Ft 
 
Actual Notice - Answer- No...
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Add to cartAccretion - Answer- The addition to real estate by accumulation of soil and land through 
nature. 
 
Accrued Depreciation - Answer- Loss in value of a property due to time. Difference of 
replacement cost and the presently appraised value. 
 
Acre - Answer- 43,560 Sq Ft 
 
Actual Notice - Answer- No...
When land is conveyed to a trustee, what may a trustee do? - Answer- Whatever is permitted 
under the trust agreement. 
 
What is true of both special assessments an ad valorem taxes? - Answer- Delinquent payment 
is grounds for sale of the property. 
 
At the time of harvest, crops that require ann...
Preview 2 out of 11 pages
Add to cartWhen land is conveyed to a trustee, what may a trustee do? - Answer- Whatever is permitted 
under the trust agreement. 
 
What is true of both special assessments an ad valorem taxes? - Answer- Delinquent payment 
is grounds for sale of the property. 
 
At the time of harvest, crops that require ann...
vendee - Answer- a buyer or purchaser particularly someone buying property under a deed 
 
vendor - Answer- seller ,particularly someone selling property by means of a contract for 
deed 
 
escalation clause - Answer- increase or decrease interest rate based on annual percent 
 
deed - Answer- writt...
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Add to cartvendee - Answer- a buyer or purchaser particularly someone buying property under a deed 
 
vendor - Answer- seller ,particularly someone selling property by means of a contract for 
deed 
 
escalation clause - Answer- increase or decrease interest rate based on annual percent 
 
deed - Answer- writt...
A person authorized by the broker to act as the agent of a specific principal - common in dual 
agency relationships, two salespersons from the same company can represent opposite sides 
of the sale. - Answer- Designated Agent 
 
What approach does an appraiser take primarily for an investment prope...
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Add to cartA person authorized by the broker to act as the agent of a specific principal - common in dual 
agency relationships, two salespersons from the same company can represent opposite sides 
of the sale. - Answer- Designated Agent 
 
What approach does an appraiser take primarily for an investment prope...
Special Assessment - Answer- A category of property tax levied upon a property according to 
specific benefits that it receives. Special assessments are levied for those improvements that 
only benefit a limited number of properties such as street paving, water & sewer lines, 
sidewalks and lighting...
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Add to cartSpecial Assessment - Answer- A category of property tax levied upon a property according to 
specific benefits that it receives. Special assessments are levied for those improvements that 
only benefit a limited number of properties such as street paving, water & sewer lines, 
sidewalks and lighting...
"Which of the following is TRUE about Michigan transfer tax? 
 
A)Transfer tax is a charge to the buyer at the closing. 
B)Transfer tax is calculated on the sale price of the real estate being conveyed. 
C)Transfer tax is collected at the time a mortgage to real property is recorded. 
D)There are t...
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Add to cart"Which of the following is TRUE about Michigan transfer tax? 
 
A)Transfer tax is a charge to the buyer at the closing. 
B)Transfer tax is calculated on the sale price of the real estate being conveyed. 
C)Transfer tax is collected at the time a mortgage to real property is recorded. 
D)There are t...
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1. A veteran buying a home from a for sale by owner and financing it with a VA loan can do 
all of the following except: 
Immediately rent the home after closing to make the monthly payments 
2. After Charlie's death, his will indicates that all of his real property must go to charity what 
can Cha...
Preview 3 out of 16 pages
Add to cart1. A veteran buying a home from a for sale by owner and financing it with a VA loan can do 
all of the following except: 
Immediately rent the home after closing to make the monthly payments 
2. After Charlie's death, his will indicates that all of his real property must go to charity what 
can Cha...
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